BORANG PEGAWAI BANK

When an Offshore Bank Fails

2010-03-07T09:54:00.001-08:00

Introduction - What we are going to do is describe the legal and mechanical process relating to offshore bank failures. We will discuss what leads up to them, what happens if they fail, and how do the depositors get their money back. The terms and scenarios we depict are generally what happens in the world of offshore banking. In some jurisdictions the terminology and procedures may be slightly different but the general way things proceed will be in line with the scenarios depicted in this article.

Offshore Banks - A brief definition of this term is in order. These are banks that are located in various countries around the world many being in Caribbean Island Nations. These banks have a license that enables them to only do business with people and entities (trusts and corporations) that are not from that country. The offshore jurisdiction does not trust the offshore bank to accept deposits from its citizens or corporation filed in that country. This right away should tell a moderately astute investor that he or she is perhaps not exercising the correct amount of caution when it comes to selecting a bank and an offshore jurisdiction. So the first warning sign is be careful of offshore banking licenses. A bank can be in an offshore jurisdiction and not have an offshore banking license, instead be a regularly licensed bank. Offshore bank licenses can be had in some jurisdictions with as little as a $50,000 deposit with the country issuing the license. Usually this amount is never more than $500,000 and many countries require less. As a point of comparison a regular bank operating in Panama is required to post $10,000,000 cash deposit and the owners go through a rigorous background investigation.

Bank Failure - This is a term relating to the offshore bank being unable to fulfill the demand for funds from their depositors. This can occur for a number of reasons, some bad and some not so bad. The offshore bank may have been found to be below its protective ratios and the government bank auditors or financial ministry may decide to shut the bank down in terms of money going out for a limited period of time to see if the bank can return their ratios quickly to an acceptable level. In the event the ratios return to an acceptable level the bank operation resumes normally and the depositors may not even know anything occurred.

Complaints - The way offshore bank failures generally start is with complaints to the licensing authority of the country where the bank is located stating that requests to withdraw funds are not being met by the bank. To document this the account holder generally retains legal counsel in the country where the offshore bank is located and files a formal demand for the funds to bank with a very short deadline. When this demand is not met the law firm will file a formal complaint to the offshore bank licensing authority who will generally conduct an investigation. They may have their own auditors or hire an independent team of auditors to go through the offshore bank records. They will look to see if there are any loans on the books that do not meet the guidelines for lending such as writing uncollateralized loans is usually considered an offense. Loans to the principals of the bank are another red flag. Real estate acquisitions like mansions on the island where the offshore bank is located for the bank executives to live in is another red flag as well. Usually without loans the bank would not fail to meet its ratios. When these loans go bad and there is no collateral to go after then the banks get into trouble. The complaint process is possibly the only way the government is going to know their offshore bank is in trouble and by then it may be too late, but it may not be too late. Remember we are talking about offshore banks here, not regularly licensed regular banks which are audited and watched way more closely by the government and usually by a different government agency than the agency supervising offshore banks. We as a Panama Law firm do not introduce clients to offshore banks which should tell you something.

Loss of Correspondent Bank - Sometimes the offshore bank has just lost one or more of its correspondent banks and can not execute wire transfers until it replaces the correspondent with another correspondent bank which may take several weeks. When the complaints hit the government they will investigate, see that the funds are in place and allow the offshore bank a reasonable period of time to secure another correspondent bank, checking with them for progress reports. This is a not so bad problem that will only serve to scare and inconvenience the depositors.

Offshore Bank Receivership - This is a process whereby the government agency that licenses the offshore bank takes over the offshore bank to control its operation with an eye towards saving the bank. Sometimes they are successful and well sometimes not. Often a team of professionals from a large auditing or accounting firm are brought in. Receivership practices can frequently mean that a percentage of your funds will be unavailable for withdrawal for sometime. This is to prevent a run on the offshore bank which would for sure topple it and thus cost the depositors substantial losses. You may be only able to take out say 25% of your funds. What can often happen is the depositors lose faith and take as much money out as they can and avoid putting in any more money. This usually results in the offshore bank failing totally and being shut down.

Suing the Offshore Bank - What often happens in these offshore bank receivership scenarios is some depositors get scared and act jumpy and sue the bank. The lawsuits generally involve having the court encumber or tie up an amount equal to their deposit. To accomplish this the depositors generally have to resort to deceit or twisting the truth minimally, to make the court think they were not ordinary depositors or the amount in question consisted of funds to be handled in a special exceptional manner. The way the depositors are playing their hand is get the court to hold my money before the bank goes down completely and then my funds get mixed in with all the depositors in the fracas. If one files such a lawsuit they are generally excluded from filing claims as regular creditors (depositors) of the bank in the event of a liquidation and if they lose their lawsuit (an expected occurrence if based on fraud or deceit) they can lose all. Usually several depositors will file such lawsuits if there is any official action taken against the offshore bank and this could push the offshore bank into greater difficulty and if there is a bank liquidation it will be a most complex one with a lot of depositors funds eaten up in legal fees.

Offshore Bank Liquidation - This is of course the sword of gloom in the world of offshore banking. For things to reach this level the government had to have felt that the offshore bank is not salvageable. Generally a bunch of depositors filing lawsuits and jamming up the court system of some island jurisdiction is going to encourage the government there to liquidate the offshore bank in hopes of freeing up their courts. Imagine an offshore tax haven island court system. A small building with one to three courtrooms and maybe three or four judges. These courts hear divorce, child custody, personal injury as in auto accidents, bankruptcy, collection cases, resident disputes with building contractors, traffic court cases, and criminal cases. The court is there to enable the island jurisdiction to function as an independent governing state. It is not going to jam up its courts increasing the wait times for its citizens that are trying to deal with vital matters like child custody where one of the parents is an abusive drunk hurting the children. When the offshore bank gets put into liquidation generally the court cases can be disposed of quickly or even by summary dismissal. The government knows that the people behind these lawsuits are trying to get more money than they would if they just waited for the liquidation to proceed and are not amused by their litigious behavior.

The Offshore Bank Liquidation Process - So now the bank is in liquidation. What does this mean? Basically a liquidator will be appointed to determine what assets the bank has, liquidate what can be profitably liquidated and then see how much money is left. The remaining money will be divided up amongst the depositors fairly depending on how much they had on deposit in the offshore bank. They will get a percentage of their deposit back. What would be a good return in a liquidation, 75%. What would be a bad return well there was a liquidation in Latvia a few years ago where the depositors got 2%. What is a typical return? There is no number but it should be 33% to 60% unless the bank has been really mismanaged.

The Offshore Bank Liquidator - This is generally a person with an accounting, legal or banking background. They can understand the books of the offshore bank and the laws pertaining to the offshore bank and the liquidation. If the offshore bank had secured loans that went bad (payments not be made according to written loan documents) they will analyze the worth of going after the collateral. If there was a farm in Argentina posted as collateral for a three million dollar loan he may order an appraisal of the farm to see if it really worth that much. If the value of the farm is more than the legal expense of securing and liquidating the asset the liquidator should go ahead and liquidate it. This process may take a year or longer. If a loan was made to a trucking company in Belgium for a fleet of trucks the same liquidation process may occur. This sort of liquidation may take even two or three years depending on what type of liquidation processes may need to be followed. The borrower may file bankruptcy making the liquidation of the secured assets difficult and time consuming in some countries. The bankruptcy court might let the borrower continue making payments and keep the asset which can make for a rather problematic liquidation because now the loan must be sold to reduce it to a net value. Generally such a loan is going to go for a deep discount at best. The liquidator may have to sell the banks real estate, computers, office equipment and furniture, cars, boats, planes etc. All this is time consuming and the assets should be sold at an auction to keep things fair avoiding accusations of selling under the market for kickbacks. There is an inherent conflict of interest in the liquidation process. The bank liquidator generally gets paid handsomely. Think perhaps $150 to $300 an hour or maybe $10,000 to $30,000 per month. It is in his best interest to keep things going for as long as possible. The lawyers the bank liquidator uses are also under this same conflict of interest. How honest and upright these people are going to be is something for which there is no rule but there is generally a control element in the form of a creditors committee. In an honest liquidation the liquidator may elect to distribute the readily available assets the offshore bank has right away. These assets would be the actual cash deposits. This is an encouraging sign to the creditors. Money would usually be held back to allow the liquidation to proceed further allowing for legal expenses etc. Then as real estate and other assets are sold further distributions would be made. Not all liquidations are done so directly.

The Ugly Side of Offshore Bank Liquidations - Sometimes the offshore bank assets are deposited by the liquidator in another bank. Whether or not this is in an interest bearing account is always a good question. If there is $12,000,000 in cash in a bank the interest at 4% a year is a serious amount of money that will tempt people. Legal fees can be padded and kickbacks made to the liquidator from the law firm located on the island jurisdiction the offshore bank is in. Some of these islands where these offshore banks are have less than 100,000 people living in the country. You are foreigners and don't expect such honest treatment in these tourist island jurisdictions. They may view these offshore bank liquidations as a feast for the locals courtesy of all the rich foreigners. Excessive travel can be run up by the liquidator. He can travel abroad going first class all the way even bringing the lawyers along, all on the clock. The liquidator can reach crooked settlements with people who posted collateral for loans with the offshore bank. Depositors of the offshore bank can file lawsuits for special treatment and the liquidator can settle with them in a crooked manner for an illegal kickback and then they get all their back while you only get a fraction back. Real estate owned by the offshore bank can be sold under market value for a kickback to a friend or relative of the liquidator. Same can be done with cars, computers etc. The liquidator can elect to chase assets not worth chasing to continue his high paying job some years longer than it should require. Remember offshore bank liquidations do not come along every day and the liquidator has no idea where his next job is going to come from. There is a check and balance usually in the bank liquidation process which is described below.

Offshore Bank Liquidation Creditors Committee - A creditor of the offshore bank is generally a depositor but it could be the electric company or the phone company. Generally, the employees are considered priority creditors when it comes to their wages and they get paid off first and fast. The depositor is owed money by the offshore bank based on their deposits, thus he or she is a creditor as far as the offshore bank liquidation is concerned. An offshore bank liquidation is sort of like a bankruptcy proceeding. In an offshore bank liquidation a creditors committee is formed which is something done in many bankruptcy proceedings. The creditors committee could possibly have been formed before the liquidator came into office and they appoint the liquidator with or without the approval of the court, rules vary some depending on the offshore jurisdiction involved. The creditors committee generally is voted into existence by the creditors, the creditors with the most dollars on deposit having the most votes is one way to look at it. All creditors are generally not treated equal. The creditors committee members are all on the same side and that side is interested in getting as much money back as they can. Decisions as to how to spend money chasing assets or potential assets are usually made by the liquidator but the creditors committee can exert control over the liquidator even replacing the liquidator in extreme circumstances. Some bank liquidations have taken place without creditor committees in place. These are generally less than above board liquidations.

Creditor Claims in Offshore Bank Liquidations - When the liquidator is in office the depositors are generally required to file claims. The claims process involves filing identity documents with the liquidator and identifying your account and how much money was in it. Offshore bank liquidations are conducted in open court and these claims wind up as exhibits in the public domain. What I am saying is bank secrecy is not in place once the bank is in liquidation. What one can expect to see is a fair number of depositors failing to file claims because of various reasons often relating to bank secrecy. Of course this means a greater recovery for those who do file the claims while the other folks walk away with a total loss of their funds by choice.

What to do if you are in an Offshore Bank Liquidation - If you are already involved in a bank liquidation you made a mistake and you are going to get hurt. How badly hurt is the question so you should be trying to mitigate your damages. If a creditors committee is forming try to get involved actively, even try to sit on the committee. If the liquidator has not yet been appointed do get involved in that process. Try to find ways to meet other depositors. Call lawyers on the island and ask them to represent a group of creditors collectively. Rest assured other depositors will be calling lawyers on the island and the lawyer can be a contact point to form a creditors committee. The idea may not occur to a lot of these lawyers so help them out a bit. If you can get a creditors committee in place and have it appoint a liquidator you will probably have a honest liquidation, probably. That having been said one must still leave room for the offshore bank itself having been intrinsically dishonest and the bank owners have since ran away with the funds. When you read the offshore bank liquidation horror stories you see that the money trail goes from country to country, bank to bank and then it ends up with a large cash withdrawal which is usually the end of the trail. The offshore jurisdiction may fail to ever prosecute them or file charges which of course make one wonder what was going on. So the key here is to get involved actively. It is real important to open communications with other creditors and get organized.

How to Avoid Being in Offshore Bank Liquidations - The answer is of course simple, avoid offshore banks. Stick to banks with full banking licenses that can conduct banking business with the residents of the country as well as with entities not located in the country.

Offshore Bank Alternatives - The best alternative to these tax haven island offshore jurisdictions is Panama. Panama is a solid offshore tax haven jurisdiction that does not tax offshore derived income and has no capital gains tax or tax on stock market gains. Panama has fully anonymous bearer share corporations where the owners are not recorded in any registry or database. Panama has anonymous foundations which are able to have generally non-freezable bank accounts. Panama has no tax treaties with any country so fishing expeditions are not going to happen. Panama has the tightest bank secrecy laws in the world and when coupled with an anonymous bearer share corporation it becomes the most secure and private structure one could have in the world today. Panama has 400,000 corporations registered there as well as many of the merchant marine vessels and cruise ships in the world. Panama has about 150 banks many of which are large multi-billion dollar international conglomerates, yet the banking operation in Panama is a separate bank corporation operating under Panama bank secrecy laws. Panama has not had a bank failure in over five years. Panama has had only a few bank failures in its history whereas Switzerland had over 15 bank failures during the years 1999 to 2000. Panama tightly regulates its banks. Every Panama Bank must submit monthly auditing reports to Panama's Banking Superintendent, which is under direct supervision by the Banco Nacional de Panama (BNP), the National Bank of Panama. A list of prominent international banks in Panama includes: Citibank, HSBC, Dresdner Bank, Bank of Tokyo, Bank of Boston, Banco Nacional de Paris, International Commercial Bank of China, Societe Generale, Banque Sudameris, BBVA, Banco Uno, Banco General, PriBanco, Banco del Istmo, Global Bank, MultiCredit Bank, PanaBank, ABN Amro, Banco Aliado, Banco Continental, BancoLat, BIPAN, Lloyds TLB Bank, and the Bank of Nova Scotia. Many of the Panama banks own office building skyscrapers 40+ stories tall with their name on the building. These are not grocery store sized banks found in the island jurisdictions. The Panama Stock Exchange has an average trading volume of $900,000,000.

Panama is free of hurricanes, volcanoes, tornadoes, and earthquakes which is why the Panama Canal was built there. Panama uses the US dollar as their national currency. Panama has modern telephones, cell phones and internet being a country having been built by the Americans which left Panama in 2000. Panama has a treaty with the USA calling for the USA to protect the Panama Canal if it was threatened. This means the peace and security of the Republic of Panama is protected by the USA which could have jet fighters there in minutes. Panama is the new Switzerland of the world.
For more information regarding Offshore Bank Failures go to: www.panamalaw.org
Article Source: http://EzineArticles.com/?expert=Gissela_Martinez

Job Searches

2010-03-07T09:43:00.000-08:00

With the state of the economy and increase in the loss of jobs in the United States many people are searching for new jobs. It wasn't long ago when most of the searches were made by people looking to upgrade their job, but now there are increasing numbers of people who are seeking employment of any kind to pay their bills.

They hope they can find it in the field they are accustomed to, but in the end they will do whatever is necessary to pay their bills and feed their family. People are losing jobs daily and I just heard a newscaster say that they are trying to find a way to track the miles we drive so they can use the data to tax you at differing rates at the gas pump. Can you believe it another way to tax us?

I don't know about you, but I'm for change, but more taxes is not the change I'm looking for. One thing for sure is no matter what our tax rate is we still have to pay the bills each month when they are due.

Many people are seeking help now not tomorrow or next week. They need to feed their family and pay the bills they already are late on. Some have been laid off for some time, while others live in fear of losing the jobs that currently have. Many companies because of the high tax rates have chosen to take their companies and the jobs that go with them to other companies.

That's the good thing about working online you don't have to worry about where the jobs are located, because you can do the task required no matter where you are located. All you need is a computer, access to the Internet and a good online job.

There are many types of job banks online that will help you in your search for a new job. You should be able to find job banks for traditional jobs in addition to websites offering many Work at Home jobs. Many people are looking to do both types until they get their Work at Home income to the desired levels.

The main thing is don't despair there are many different ways to create income and jobs to be had. I realize taking a step back is not what you may be looking for, but sometimes we end up better off because of the trials and tribulations we go through.

It will take time and effort, but nothing good comes from anything less. Give yourself the chance you and your family deserve. Find the jobs that fit your needs, perhaps more than one and give it your best shot. You and your family deserve nothing less. Please feel free to read both this article or one of my many others by visiting my link in the resource box below. I always enjoy getting emails pertaining to my articles or my site. Your feedback is important to me.

Stay positive and stay open to new ways of earning money. I wish you the very best!

Michael Comeau has been owner of many successful businesses over the years including his current online business which can be viewed at http://workfromhome4dollars.com/WordPress/?p=305 You may also find more articles by Michael Comeau at http://www.workfromhome4dollars.com.
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Tips On Writing Impressive Resume

2010-02-24T04:41:00.001-08:00

Making an impressive resume is not an easy thing for fresh graduates as well as for those who do not have any experience applying a job. More often than not, they make mistakes to the extent that they end up making a fluff. However, there are some tips that could help you in creating a document that can attract the attention of employers.

1. Writing a long resume is a big no
When you happen to submit resume in large enterprises you will notice that they do not give time in reading long resumes. As much as possible, you should write one that is compressed in 2 pages. Keep in mind to make it brief and concise with all the essential information. You need not include your secondary school attainment unless necessary. However, special achievements such as awards in prestigious competitions can be included. Generally, you should start from your baccalaureate learning experience.

2. Write resume that is objective and factual
If you want to be chosen in your desired position, primarily you should write a truthful and objective resume. A fake document would be a big reason for you to be rejected if the employer finds it out. Remember that when you make untruthful documents it reflects to your personality.

3. Be natural in giving information
Although giving false information is a big mistake it does not follow that you will divulge all your weakness. Thus, it is not right to indicate in your resume that you do not have yet any working experience and very much willing to work any job. This would insinuate that you might be hired in a job not suitable for you.

4. Indicate your desired positions
When you create your resume, it is necessary that you indicate your desired position open in the company you are applying. Indicating the desired position would help you make a tailor-made resume suited for the position and always stress the advantages. However, you should make two individual documents if you think that you are capable in two positions.

On the other hand, if you are planning to apply in government offices, it is vital that you make a concise resume that conveys all the pertinent information. The Selection Advisory Committees or the Human Resources would not spend time in plowing lengthy resumes that have unimportant and irrelevant information. Keep in mind that the document will serve as your reference in meeting the criteria of selection that would be checked by the committee. They will also assess the validity of your information and if you pass the assessment, you will be scheduled for an interview.

To sum it up, you should always remember to create resume that is readable. Avoid making fancy boarders and graphics unless you are applying in a creative industry. Relevant information should be posted in the front and maintain at least two pages resume. However, you can make longer one depending on the relevant information but should not excess four pages.

The very word "resume" stands for summarizing and therefore a person needs to keep it in mind. The primary reason of the resume is to perfectly summarize the job experience, knowledge, as well as the activities of a person and it should stick to doing that.
From rutheralan

Jobs In Insurance Companies

2010-02-24T04:29:00.000-08:00

Jobs in insurance companies are lucrative options for all finance professionals in India. With 15-20 percent growth rate per annum and the entry of private

companies, insurance jobs in India have become more demanding. A host of facilities including an attractive salary package, handsome incentives and steady

career growth are offered by most of the insurance companies in India. Anyone who wants to go for a good job in the insurance sector can also pursue a course in

insurance management that will give him an edge in the job market.

Insurance management courses offered by several renowned institutes across the country cover the nitty-gritty related to the insurance sector so that students can get a clear idea of the sector and grab better positions in any insurance company after the completion of the courses. Anybody can opt for an insurance course after graduation. Some insurance management institutes in India conduct admission test while some other institutes select students for the course through CAT and MAT entrance tests. Working professionals can also opt for insurance management programmes as many institutes also offer correspondence and part-time courses.

As far as jobs in insurance companies are concerned, both national and international insurance companies are ruling the job market. Some of the big names in the

insurance sector in India include Bajaj Allianz Life Insurance Company Limited, Birla Sun Life Insurance Company Limited, HDFC Standard Life Insurance

Company Limited, Max New York Life Insurance Company Limited, Tata AIG Life Insurance Company Limited, Aviva Life Insurance Company Limited, SBI Life

Insurance Company Limited and many more.

Anyone planning to make his or her career in insurance sector can apply for several positions. Some positions for which insurance companies mainly hire people

are as follows:

• Insurance Advisor: Many insurance companies in India hire skilled professionals as insurance advisors. The job of an insurance advisor is to serve all

the policyholders of a company. An insurance advisor is responsible for assisting policyholders to choose the best possible plans for them, enabling policyholders

to understand various risks and find out the right way to avoid the risk.

• Insurance Associate: A finance professional interested in insurance jobs can also apply for the position of insurance associate. Generally, an insurance

associate is responsible for achieving sales target, creating and maintaining relationship with customers, implementing various promotional schemes, just to name

a few.

• Back Office Support: Any commerce graduate willing to start his or her career path in the insurance sector can opt for the position of back office support.

A professional working as a back office support has to shoulder various responsibilities. He has to attend all the service related queries of customers, send the

MIS report to the concerned authority, assist teams at the time of log and many others.

• Sales Development Manager: Sales development manager position in any insurance company is a great reward for finance professionals. The

responsibilities attached to the position include identifying insurance agents and recruiting them, reviewing the performance of the team, providing training to his

team, setting target, improving the productivity of his team and many more.

How To Get An Investment Banking Job As A Lawyer

2010-02-17T10:30:00.000-08:00

Decided to go to law school, start working at a law firm, and realize you're actually more interested in finance and investment banking?

You're not alone.

It's fairly common for lawyers to switch into finance and investment banking specifically. There are several paths from law to investment banking.

You can get a banking job immediately after finishing law school; you can work as a law firm Associate for several years and then transition over; and you can go to business school after practicing for several years and interview for banking jobs as you complete your MBA.

It sounds appealing to go immediately from law school into investment banking. However, it is difficult to pull off and most banks do not recruit someone immediately out of law school. They would have difficulty placing the candidate and deciding whether to make him an Analyst or Associate.

This method becomes easier if you had finance experience prior to law school, in which case you just need to tell a good story about why you went to law school.

If you haven't had this experience, it's better to work for a few years at a law firm and transition over.

Going to business school after law school is only recommended if you've practiced in a completely unrelated legal field like Intellectual Property or Environmental Law.

How To Work In Law And Then Switch To Banking

You need to Corporate Law. Don't even think about Intellectual Property, Litigation, or anything else. Do Corporate Law.

Recruiting is ultimately a numbers game, and you increase your odds greatly if you have Corporate, Securities, or M&A legal experience.

Once you have a few years experience working on transactions, you can consider switching into finance.

Contact all your friends in the industry and ask for referrals to recruiters; contact former clients and ask about setting up informational meetings or discussing opportunities at their firms.

Target industries and clients you have experience with. If you worked with a lot of technology companies, go for technology investment banking firms; if you did Mergers And Acquisitions, go for the M&A departments at banks.

Also, try for boutiques and middle-market firms rather than bulge brackets unless you work at one of the top few law firms - it will be much easier to get into smaller places.

How To Sell Your Story In Interviews

With a Corporate Law background, there are 2 main points you'll need to prove: 1) that you have quantitative and finance skills and 2) that you really want to make a big career change even if you're on Partner track at your law firm.

You really need to focus on financial skills in your interview preparations. Know the 3 financial statements cold. Be able to explain models and valuation methods because they will ask you tons of questions here, especially if you were an English or History major and have no finance experience.

This is one of the few cases where getting a CFA might actually help you get into investment banking - it would give you the finance knowledge and show your interest in the field.

Making the case for a career change can actually be easier. You want to emphasize you were always interested in corporate finance and dealmaking, and went into Corporate Law for those reasons. However, you got frustrated with your inability to BE the dealmaker and how you had to just sit on the sidelines, and so now you want to switch into banking and be a player.

Ian Spellfield, a former investment banker, advises students and young professionals on understanding investment banking and how to earn high investment banking salaries.

Article Source: http://EzineArticles.com/?expert=Ian_Spellfield

Banks & Branches: What Happened to Online?

2010-02-17T10:29:00.001-08:00

This is interesting as the announcement comes only a few months after announcing that they will shed up to 2000 jobs in an efficiency drive I'm interested to know the motivation behind opening branches. Whatever it is, it must be compelling as the cost involved in this activity must be astronomical never mind the increase in overheads.

My speculation is that it's been decided that branches are needed in order to reduce customer churn and increase the customer base. This is the interesting bit. It's interesting because this is old fashioned marketing. Good old face-to-face wins the day.

You know the scenario, you walk in, smoke coming out of your ears, demand to have your account closed immediately and are met with smooth talking & understanding member of staff. 20 minutes later you walk out having kept your account and also signed up for a credit card and high notice deposit account.

Is there a hidden message here? I think there is. The message is that they have not been successful reducing customer churn and gaining new customers through online means. I'm not sure if they've even tried. If they have, it's a shame that it didn't work. If they haven't then it's exactly what they should be doing. You can keep the Finance Director happy by spending far less than you would on new branches and also avoid a huge increase in overheads. Furthermore, and more importantly (at least is should be) they'll keep their customers happy.

If customers have an online community so that they can connect with their bank, so that they can communicate with their bank then they've just achieved the best win-win they ever could. You see here we have direct interaction with the consumer, they feel valued, they feel that someone is listening, more to the point you - the service provider, the bank - can communicate desired responses. These enable you to keep abreast of customer demands and desires and in doing so you'll build advocates. Once you've done this you can dispense with your marketing director, he's not needed anymore - you're advocates will do his job for you.

If you're reading this and you work for the Abbey, I know what you're thinking - "What about the internal overhead of responding to customer queries, questions, suggestions within this community". This is a good question, let's think about this. How many distinct questions do you think there can be. Really, how many. You're a bank with a finite (and small) product offering. So that's the first thing there won't be that many distinct questions but for the questions that do exist, think about it, you'll answer them once and hundreds or thousands will get the answer, the same answer - oh, at last, a consistent message you'll hear your customers say.

So know you're building a nice repository of information, suggestions and advice all of which is reusable. If you have a decent search facility built in, questions should reduce as your customers will find the answers to their queries themselves. Make sense. So now, the customer is doing the work that you used to do, that sounds good - reduced headcount, the FD will be happy again.

Last point (in order to keep the blog short-ish more than anything else), think about this community. Think about your clients openly expressing "I wish I didn't have to do such and such when I setup a new direct debit" or "why does it take 5 days to sort out this" and lastly "why do the bank keep sending my cheque book to my previous address". You've got free market research. Free = FD is happy again, Market Research = Marketing Director is happy. Ooops, I forgot, he's already gone. OK,

Head of Products will be happy.

The future is online, the future is mobile. Few of us have the time, inclination or desire to visit a bank on the high street. The group that does have this time are reducing in number all of the time. Once we get to Global Banking, this group will be miniscule.

My background and experience is mainly project management within diverse environments such as large corporate financial institutions, medium-sized technology consultancies and smaller start-ups. Having held positions including Operations Director (COO) and Head of Process Management, I recently left corporate life…the entrepreneurial side of my character is prevailing.

My focus is on becoming an “Un-natural Entrepreneur”. I want to work with people and companies that have vision. I can offer key values and skills to help bring your ideas to fruition. If you are a “starter”, then I am your “finisher”. My approach to a challenge is to clarify, understand, problem-solve, develop and deliver.

To take an idea or concept through from its inception to its execution requires a consultative approach - a partnership. I am a rational and pragmatic thinker and can work within an existing management structure, or create a new management team through my extensive network.

http://www.stuart-oliver.com/blog
Article Source: http://EzineArticles.com/?expert=Stuart_Oliver

Banking Jobs - Top 10 Guide to Surviving the Credit Crunch

2010-02-02T13:05:00.001-08:00

When there is a 'credit crunch' with the prospect of recession the finance and banking sectors are at the sharp end of the stick and ultimately the first markets to feel the squeeze. Whilst experienced bankers and financiers will always be able to find employment, graduates looking to gain a position in the banking industry are finding that the current economic climate is proving tough, with a high level of competition in the marketplace amongst other graduates, whilst financial organisations are also less inclined to recruit at a time of downsizing.

When there are large-scale redundancies in the banking sector and recruitment budgets are already cut then competition to find jobs becomes increasingly difficult. As profitability in the banking sector is being hit companies have to cut costs and often graduate training and marketing budgets are the first to be rescinded. Therefore graduates looking to move into the banking and finance sectors need to set themselves apart from other candidates.

Here is a top 10 guide to help find a banking job and survive the credit crunch.

1 - You shouldn't send out the same curriculum vitae to every potential employer, instead tailor your CV for each specific job. There's no need to lie- individual employers are potentially looking for candidates with different skill sets therefore highlighting those specific skill sets in either your CV or covering letter will potentially get you noticed and set you out from the crowd.

2 - Understand the company that you are applying for a role at. Nothing irks an interviewer as much as a candidate who hasn't carried out any research. If you aren't interested in the company then why should they show interest in you? At a minimum do your research, explore the corporate website, learn about what the company offers, discover what's unique about them and read all the latest press releases and aim to 'fact-drop' in your interview. It may be an obvious tactic, which will be picked up by an interviewer, but a tactic which will hold you in good merit.

3 - An interview is prime time to ask the company questions too. Prepare a range of questions so that you'll have something to hand if you're prompted. Not having any questions can look negative, as if you're not really interested.

4 - Consider broadening the types of companies you apply to, there can be a lot of people competing for the same jobs at the largest banks and financial institutions, so look to mid-tier investment houses or hedge fund providers.

5 - Graduates should look for financial training schemes, however in a credit crunch these schemes can be harder to come by, so if you've just left university consider internship, or work experience. A couple of months working for free may not be of immediate financial benefit but could pay dividends long term as relevant experience can be very important and employers are looking for candidates who can hit the ground running, or show the kind of dedication it takes to decide to do work experience. Those that cannot take a financial hit by working for free should look at taking part-time or related work that can be used to show commercial awareness and business skills. Charity work or a job where you can provide that you have entrepreneurial abilities can also set you ahead of your competition.

6 - When you get an interview don't act desperate, as if you need the job. Being keen is great, but if the interviewer thinks that you'll take any job because you need it, the image you a portraying is of someone who may 'jump ship' once you get back on your feet.

7 - You can't avoid the fact that sometimes it's who you know and not what you know. Anyone can use this to their advantage by utilising social networking, contacting friends and ex co-workers to see if there are any opening where they work.

8 - Your personal statement on your curriculum vitae can be one of the first things a potential employer may read about you, so you need to take this opportunity to impress. Keep your personal statement fairly short and snappy and highlight your professional attributes and goals. Remember to sell yourself and avoid typical cliché and empty phrases such as 'team player' etc

9 - Highlight key corporate success stories that you have accomplished. Businesses like facts and figures, so if you're produced some impressive results in previous employment then state them in your curriculum vitae. This separates you from the other candidates and moves you from the 'potentially could do' to the 'has done' thought mentality in the employers mind.

10 - Industry sector recruitment firms can also help graduates find Banking Jobs and graduate placements. Many companies turn to these recruitment specialists to help them find appropriate candidates.

By utilising some of the above tips finding a new banking job in the credit crunch can be made a whole lot easier.

Article Source: http://EzineArticles.com/?expert=Julie_Samuel

Banking Jobs

2009-10-28T02:19:00.000-07:00

Modern banks have highly trained staff for delivering top quality service to customers. Other financial institutions like insurance companies now offer most of the services provided by banks. Owing to this intense competition, banks need top quality staff that is talented, reliable, trustworthy, and communicative. Many banking jobs are in specialist areas such as IT and corporate banking.

Entry-level jobs will probably involve processing checks so that the employee can meet the strict deadlines for overnight delivery to the bank's head office. These employees are also involved in answering customers' questions and are the bank's front line executives.

If the employee shows aptitude and initiative, he or she can become a supervisor, carrying responsibility for his or her own team. Once this employee passes their professional banking exams, he can be in charge of the whole branch. Graduates can expect to be placed on a fast track learning course, spending about two years moving through different jobs within the bank while learning how the bank works before being promoted to a management position. Managers need a wide knowledge of the financial services available and should know when to bring in specialist advisers from other areas of the bank.

All banking staff is expected to attend regular in-house training courses throughout their career to learn about new developments. Working hours of the staff are generally from 9am to 5pm, but working patterns can vary. Some branches will be opened on Saturdays and some are even open on Sundays.

Salaries depend on the roles and responsibilities of the employee and the location of the bank. Most banks operate on an annual appraisal system and salary increments are awarded according to the performance of the employee during the year. Profit sharing, subsidized mortgages, and non-contributory pension schemes form a part of their remuneration package.

There is a tremendous range of opportunities in commercial banking, starting at the branch level. Different job options are Credit Analyst, Loan Officer, Branch Manager, Trust Officer, Mortgage Banker, and other jobs in accounting, marketing and advertising, commercial card operations, securities transfer, wire operations, private banking, cash management services and operations and communications. In the case of investment banking, the job options are manifold in areas like corporate finance, merger and acquisition deals, project financing, derivative financing, international sales, and retail brokerage.

Banking provides detailed information about banking, banking jobs, banking services, and more. Banking is affiliated with Swiss Bank Accounts.

Article Source: http://EzineArticles.com/?expert=Eddie_Tobey

Easy Ways To Handle Bank Foreclosure

2009-10-28T02:18:00.000-07:00

Recently, my significant other and I found ourselves facing bank foreclosure on our home. We knew it was coming. We had missed several mortgage payments while we were laid off from our jobs at the mine. Stupidly, we decided not to communicate our problems to the bank. We tried to make do with part time jobs at fast food restaurants, but trying to make all of our payments on time and still have money to buy diapers and food for the kids was very difficult. It was a scary situation to be in.

The first step in bank foreclosure is missing a payment. It does not matter why you miss that first payment, but the foreclosure ball starts rolling at that point. Once fifteen days have passed from your missed payment, the bank usually tries to contact you. If you do not talk to the bank, more problems are in store. Forty-five days later, the next step is taken. At this point, you are usually warned, in writing, that you are facing foreclosure if you do not take action immediately. If you allow another thirty days to pass with nothing, the formal paperwork will begin.

There are several steps you can take before the formal foreclosure process begins. All of these, though vary from state to state. In some states, you can file for bankruptcy. Most will allow you to keep your home as a protected asset. There are two types of bankruptcy you can file for. You can have your debts wiped out, or you can have your debts reorganized so you can continue to pay lenders as much as you can while still having money to survive on. Either way, the ability to file for bankruptcy and keep your home will depend entirely upon the laws in your state. Another thing you can do before the formal bank foreclosure process starts is talk to your lender.

Most lenders are willing to work with customers to lower payments temporarily, suspend payments for a few months until you get back on your feet, or make some other arrangements. Banks do not want to foreclose on people. There isn't some guy sitting in an office giggling manically thinking, "Hmm, whose house can I take today?" Foreclosures are just as much hassle for the bank as they are heartache for you. The final thing you can do before the formal bank foreclosure process begins is look for resources to help you within your state. Many states have foreclosure prevention associations that will provide you with the resources you need in this difficult time.

Even with the best resources in the world, you may still be unable to prevent the sheriff from showing up on your doorstep with a foreclosure notice and giving you a few minutes to get any belongings you can grab and head for the streets where you may be spending a very long time. The important thing to remember is to try to prevent this nasty process before it starts.

Christopher M. Luck has an extensive background with over 18 years experience in foreclosures and is now offering his free professional bank foreclosure advice to the public. If you are at all interested in Christopher's bank foreclosure advice, tips, or secrets, you can visit his bank foreclosure blog

Article Source: http://EzineArticles.com/?expert=Christopher_Luck

Great Job Opportunities in Bank Sector

2009-10-28T02:17:00.001-07:00

With the changing economic scenario banks have played a great role in boosting the economic progress of a nation. Thus there arises a good need for bank jobs. In earlier days, Bank tellers normally used to deal with deposits and withdrawals of money for customers. But with the passage of time, many leaders in the world of commerce realized that its not possible always for a consumer to make his way to bank during the banking operational hours, this led to the invention of ATM banking which later became very popular because it gives a person 24-hour access to his bank account. Also with the coming of Internet banking industry improved to a great extent as online banking through Internet helps a person to use their own bank account.

Those persons who are interested in the field of banking will be offered a wide plethora of jobs to choose from. Depending on one's choice one can work for prominent commercial bank, regional bank, savings banks, credit unions and even online banking institutions which offer employment opportunities. Among the banking operations which has quite a prominence is online banking process which is done with the use of a PIN, quite different from the one used for the ATM card. Its a simple process where you need to go to the website of the bank and enter the PIN code and one can easily get into his account, withdraw money, deposit money, pay bills, request for loans or invest in money.

Types of Banking Jobs:

Depending upon one's choice and qualification there are varied banking jobs in India available. The job responsibility of a customer service representative includes assisting consumers with their accounts and helping them in resolving complaints either through phone or email. The representatives of bank should be properly trained about the bank's policies, procedures on any products offered by the bank, giving them proper knowledge so that they can well explain their products to the customers and sell them at the right time.

On the other hand, a loan officer's job involves reviewing and submitting reports related to reimbursement and disposal of loans. These bank employees assist potential borrowers with loan applications have to go through numerous stringent measures to verify information related to the borrower's identification which includes contacting employers, credit card companies if any, and previous lenders if the need arises. Normally, banking loan officers sell products to customers, such employees specialize in consumer, commercial or mortgage leading areas. Banks also employ from time to time clerical workers to process transactions and for collections in various departments who have to play the role of receptionists and secretaries. Administrative assistants in banks have to play the role of clerical bank executives.

Banking Careers In USA :

Its important to note that Federal Bank Of USA offers immense career opportunities in the field of banking. In the field of financial services one can opt for job positions in the field of accountant, check processor, check adjustment researcher, analyst, and project leader. Also one can opt for applications consultant, internal auditor, human resource manager, public relation officer, and security officer in banking organizations.

Prem is an associate editor for the website Naukrihub.com an online job search portal in India. It is committed to providing visitors with complete information on latest jobs in India", Job Market in India, Jobs in USA, Europe, UK, Delhi job fairs, Indian industries, banking jobs in India and much more.

Article Source: http://EzineArticles.com/?expert=Prem_Chandra

How to Get Banking Jobs

2009-10-28T02:15:00.000-07:00

There is a lot of scope for banking jobs in India. Working at a job in banking can be an exciting one, but also highly stressful if you're not careful.

Working in a bank, means you will get to meet many different kinds of people as well as learn a lot from your hands on experience. Perhaps the best part about working in a bank is that it looks pretty impressive on your resume.

But if you think it'll be a walk in the park, think again. Many a banker comes home late - like late, late - to be with his wife and family, solely because the work pressure on him in office kept him working till 10 at night - and maybe longer.

Insurance and accounting jobs are no better. High-pressure work loads make the jobs stressful and largely draining. While it looks good on your resume to have these kind of jobs listed as work experience, you should count the cost before you step in to fill such a role.

Finance jobs can be quite exciting although, and looking on the bright side of it - at least it pays well. Jobs in Bank Industries have been known to pay over 6 digits per month and sometimes even more than that. But this need not always be the case. Jobs in Banking can be as diversified as there are types and categories of jobs in the market - well maybe not that many, but you get the point.

The first things you need to do when considering joining a bank is ask yourself why. Are you joining them for the money? Are you joining them because they are a good brand name? Are you joining them because the market is down and you have nowhere else to turn? Ok, I'm sure that's not why you're joining, because banking employment seems to be the last place anyone would look if they were in such a state. Are you looking because you want to learn something new? Are you there because it's a family business or your parents want you to do this?

Once you decide on your reason for doing this, figure out whether you would like an online banking job, or work in a regular bank. There are many types of banks under the heading of a regular bank. Some of these are: a small bank, a national bank, a hometown bank, a regional bank, etc. and then take the next step to applying to them.

As with any job, there is a minimum qualification that they expect you to meet. They don't expect you to have criminal records or any such thing. You also need to have some basic computer knowledge.

And finally, bank jobs can be found online, in local newspapers, etc. Pick up the phone and apply.

SC Mishra is offering job advice for quite some time. He is a writer with an enthusiasm for writing about anything. If you would like get more information about bank jobs, banking insurance jobs and jobs blog.

Article Source: http://EzineArticles.com/?expert=SC_Mishra

Bank Jobs in India

2009-10-28T02:14:00.001-07:00

Working in a Bank has turned to be the dream of most individuals. They feel that, life gets secured and safe, if they get an opening in a bank. Exactly! When, you consider the face of benefits of banking jobs, there are plenty of benefits and perks the job gives. Getting a bank job is merely simple, if your target is to work in private banks like HDFC, ICICI, and other more. But getting placement and openings in government banks such as State Bank, Indian Bank, Union Bank, Central Bank, etc., will be greatly difficult, as you must undertake a government TNPCE examination. You must have to overcome quite several formalities and procedures, if you look ahead to find a job in any of the Government Banks. But efforts will win! If you really work with your best efforts and work for bank exams, you can obviously win the race.

To find any bank jobs, you never to fly anywhere! There are plenty of banks that give its effective functionality in India. So, you can find good number of banking jobs in India. There are several divisions and openings in a bank. Decide what your choice of designation is and fix your workout. Most of the private banks will look ahead for people who are really brilliant and smart to work their assignments. Also, private banks will offer you a good package for your work and they offer exciting perks and benefits to double your pleasure. Basically, all banking jobs will bestow quite several spotlights to its workers. If you want to clear any specification with respect to bank jobs, then you can find plenty of job articles over the net that describes you better and clearer about the banking jobs. While you read through the career articles, you will clearly understand the benefits and perks that a bank job grants you!

To work in any banks, a basic under graduation degree is good and acceptable. But if you really wanted to progress in your career, obviously you must have to put in your efforts and hardwork in writing higher grade examinations. Every attempt you give and pass through the examination will bring you promotion and you could progress in your career. Private Banks will pay an extreme amount to individuals, who are really smart in their workouts. It is merely possible to achieve the higher grade in a young age of about 27+ or 30+ in private banks, as they never look for age grade. They really look for efficiency, brilliance, activeness, smartness and quality of work. If you have all these traits, you can get the best bank jobs in India and lead a life drenched with success and happiness.

Are you looking ahead to find the best bank jobs in India? Explore http://www.JobsCornerIndia.com to find the best opening in order to resume your CV to the respective banks. This will greatly help you to achieve better level of success, as this domain clearly portrays the essential particulars that a banking job requires and anticipates. Also check out http://www.JobSitesIndia.com for a list of top job sites in India and http://www.FreeLanceJobs4u.com to find freelance jobs.

Article Source: http://EzineArticles.com/?expert=Ravi_Ravi

Bank In Malaysia

2009-10-28T02:05:00.000-07:00

BSN

BSN was incorporated on
1st December 1974 under the Ministry of Finance. With its incorporation, BSN has
taken over all the duties and responsibilities of the Post Office Savings Bank.
BSN’s mission is to encourage savings, investments and smart financial
management among Malaysians to increase their quality of life. BSN has more than
5,100 employees, 382 branches and 621 automatic teller machine (ATM) nationwide.
BSN has more than 7 million customers spread throughout the length and breadth
of the country and with savings of more than RM 8 billion. BSN is continuously
enhancing its services as well as expanding its range of products for the
benefit of its customers. BSN’s main products include Personal Financing, Home
Loan, Premium Saving Certificate (SSP), Islamic Banking Scheme, Giro Savings
Account, BSN Matrix and Matrix-i Debit Card as well as VISA and Mastercard
credit card

CIMB

CIMB Group, Southeast
Asia's fast growing universal bank with core businesses in consumer banking,
investment banking, Islamic banking, Asset Management and Private banking. We
provide a full scale of financial services for individuals, small businesses,
corporations and institutions

Citibank

Provides retail and
corporate banking services in Malaysia.

EON Bank Group Malaysia

Provides consumer,
business banking and finance services in Malaysia.

Exim Bank Malaysia

The Export-Import Bank of
Malaysia Berhad (Exim Bank) was incorporated on 29 August, 1995 and is
wholly-owned by the Government of Malaysia.

Exim Bank's role is to provide credit facilities to finance and support exports
and imports of goods, services and overseas projects with emphasis on non
traditional markets as well as the provision of export credit insurance
services, export financing insurance, overseas investment insurance and
guarantee facilities.

Hong Leong Bank

Hong Leong Bank, a public
listed company on the Malaysian Stock Exchange, is a member of the Hong Leong
Group Malaysia (the Group). Headquartered in Malaysia, the Group has been in the
financial services industry since 1968 through Hong Leong Finance Berhad and
since 1982 through Dao Heng Bank Ltd in Hong Kong. Dao Heng Bank Ltd has since
been sold to another banking institution.....

Maybank

The Maybank Group is the
largest banking group in Malaysia and has been leading the banking industry for
over three and a half decades.

OCBC Group

OCBC Bank offers a
comprehensive range of innovative financial solutions in consumer banking,
business banking, international banking, global treasury and investment
management. In addition, the OCBC Group has diverse subsidiaries that are
involved in insurance, financial futures, regional stockbroking, trustee,
nominee and custodian services, property development and hotel management.

Public Bank Berhad

The Public Bank Group
continues to remain focused in its core business of retail banking and maintains
its leadership in the retail banking market and is committed to its goal of
being a one-stop financial center in Malaysia. The Group’s growth strategy
remains unchanged, which is to continue to deliver value to its customers,
increase its market share through organic growth and enhance shareholder value
through strong and consistent financial performance and efficient capital
management.

RHB Bank

RHB Bank

Bank of Nova Scotia

Scotiabank is one of North
America's premier financial institutions and the most international of Canadian
banks. We provide personal, commercial, corporate and investment banking
services to individuals, small and medium-sized businesses, corporations and
governments in more than 50 countries around the world, and coast to coast
across Canada.

Standard Chartered Bank

Standard Chartered Bank
Malaysia Berhad . In Malaysia, Standard Chartered is a London-based,
international bank with significant operations in Asia, Africa, the Middle East
and Latin America. Our core businesses are Consumer Banking, Business Financial
Services and Wholesale Banking - Corporate and Institutional Banking and Global
Markets.

United Overseas Bank
Malaysia

United Overseas Bank
(Malaysia) Bhd (UOB Malaysia) is a subsidiary of the United Overseas Bank Group,
Singapore.

Incorporated in Malaysia in 1993, UOB Malaysia took over the operations of Lee
Wah Bank Limited (LWB) in 1994. LWB was incorporated in Singapore in 1920 and
opened its first Malaysian branch in 1956. In 1973, LWB became a wholly owned
subsidiary of United Overseas Bank Limited, Singapore.

Affin Bank Berhad

Provides information on banking activities, profile, history, vacancies and
branch locations.

ALLIANCE BANK

The
Alliance Financial Group (formerly known as Alliance Banking Group) is a
dynamic, integrated financial services group offering end-to-end financial
solutions through consumer banking; commercial banking; wholesale banking
including corporate banking, treasury; and investment banking including
stockbroking, asset management, and unit trust management services.

AmBank Group

Islamic bank offers retail and corporate banking services.

HSBC Bank Malaysia Berhad

At
HSBC, we provide a wide range of financial products and services for personal
and commercial customers.

Bank Islam

Provides consumer and business islamic banking services in Malaysia. Include
branch and ATM locator.

Bank Muamalat

Second islamic bank, provides consumer and business banking services in
Malaysia. Include branch locator.

Bank Pembangunan of Malaysia

Bank
Pembangunan Malaysia Berhad (BPMB) is a development financial institution (DFI)
owned by the Malaysian Government through the Minister of Finance Inc. The Bank
is mandated to provide medium to long term financing to capital-intensive
industry, which include infrastructure projects, maritime, and high technology
sectors

Bank
Pertanian Malaysia

Bank
Pertanian Malaysia ialah sebuah badan berkanun Kerajaan yang terlibat dengan
pembangunan sektor pertanian negara.

Bank
Rakyat

Established
in 1954 under the Co-operative Ordinance of 1948.